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Europe
BBC Business

Johnson & Johnson offers up to $5.5bn to settle baby powder lawsuits

Image source, Getty ImagesByOsmond ChiaBusiness reporterPublished28 July 2026, 02:24 BSTUpdated 2 hours agoJohnson & Johnson (J&J) has offered to pay as much as $5.5bn (£4.14bn) to resolve tens of thousands of lawsuits in the US alleging that its baby powder and other products containing talcum cause ovarian cancer. The proposed landmark settlement aims to close a long-running legal battle that has weighed on the New Jersey-based healthcare giant for years. J&J has denied that its talc-based products caused cancer and has changed the formula of its widely used baby powder. Erik Haas, the firm's vice president of litigation said on Monday, external that the allegations are "meritless" and that J&J was willing to settle in order to finally resolve the matter. J&J said the settlement would cover about 69,000 cases, totalling most of the remaining talc-related claims. The firm will offer up to $3bn next year, with no additional payments due before 2028, it said. The proposal must be accepted by legal firms representing 95% of the ovarian cancer claims in state and federal courts before it can be finalised, the J&J said. Haas said in a statement that the company is confident that it would have "ultimately prevailed with further litigation" just as it has in the majority of cases heard in court to date. He added that the proposed resolution "allows the company to put this matter behind it" and enable J&J to "remain focused on its mission to develop medicines and devices that save lives". J&J's former consumer health business, Kenvue, holds liability for Johnson's baby powder outside North America. Kenvue - which owns well-known brands including Band-Aid, Listerine, and Calpol - was spun off from J&J in 2022. Earlier in July, a federal court handed the firm a victory by questioning individual plaintiffs' ability to show that talc was the direct cause of their ovarian cancer. Talc is a natural mineral made of magnesium, silicon, oxygen and hydrogen, known for its soapy feel and is often used in baby powder.

Johnson & Johnson offers up to $5.5bn to settle baby powder lawsuits
Europe
BBC Business

Cracker Barrel chief executive steps down a year after rebrand chaos

Image source, Getty ImagesByFrancisco VelasquezBusiness reporter, Reporting fromNew YorkPublished27 July 2026Cracker Barrel's chief executive is quitting a year after the company faced a widespread backlash over its controversial rebrand. The restaurant chain said on Monday Julie Masino will leave in August, with the former boss of Bloomin' Brands, David Deno, taking over. Its rebrand sparked a national controversy, with critics including President Trump, who urged the chain to restore its original logo after critics accused it of abandoning its heritage. Masino did not issue a statement about her resignation, but Cracker Barrel's management thanked her for her tenure. Masino will be paid an estimated $4.6m as part of a departure package, according to the company's 8-K filing, external. Cracker Barrel declined to comment, referring the BBC instead to the filing. The leadership change comes after a turbulent period for the business, which runs nearly 660 country-themed store and restaurants sites across 44 US states. Plans to simplify the classic logo and modernise store interiors sparked fierce resistance from loyal diners who argued the changes stripped away the brand's nostalgic Southern charm. It follows a similar uproar in 2022 when Cracker Barrel faced online backlash from some customers after adding plant-based sausages to its breakfast menu. Such controversies highlight the delicate balance facing brands hoping to attract younger audiences without alienating their core, longstanding customer base. Critics described the latest rebrand as "soulless" and "generic". Jo-Ellen Pozner, an associate professor at Santa Clara University's Leavey School of Business, said the leadership swap "seems to reflect the polarization many Americans feel today". She added that doubling down on conservative values may help win back vocal loyalists but "paints the company into a corner". "Changing anything about the menu, decor, or branding at this point is dangerous, so there are few levers to attract new customers," Pozner said.

Cracker Barrel chief executive steps down a year after rebrand chaos
Europe
The Guardian

Cracker Barrel CEO to step down after overseeing logo backlash last year

Julie Felss Masino, president and CEO of Cracker Barrel, speaks during 13D Monitor’s Active-Passive Investor Summit in New York City on 21 October 2025. Photograph: Jeenah Moon/ReutersView image in fullscreenJulie Felss Masino, president and CEO of Cracker Barrel, speaks during 13D Monitor’s Active-Passive Investor Summit in New York City on 21 October 2025. Photograph: Jeenah Moon/ReutersBusinessCracker Barrel CEO to step down after overseeing logo backlash last yearJulie Masino faced criticism as restaurant chain was called ‘woke’ and ‘soulless’ after unveiling modernized logo Cracker Barrel’s CEO, Julie Masino, is stepping down, the restaurant announced on Monday, nearly a year after the company was swept into a political maelstrom over proposed modernizations to its branding. Critics on social media denounced the Tennessee-based rustic restaurant chain as “woke” as well as “sterile and soulless” after it unveiled an updated logo that removed Uncle Herschel, the overall-clad man leaning against a barrel in the restaurant’s original logo, last August. Donald Trump weighed in on the updates soon after, posting: “WTF is wrong with Cracker Barrel?!” and demanding on social media that the company “admit a mistake”. The company announced that it would revert back to its old logo soon after the social media reaction exploded. Masino, who has served as the chain’s CEO since 2023, told the rightwing commentator Glenn Beck in December that she felt “fired by America” after the controversy. Cracker Barrel’s stock dropped nearly 3% after the announcement of Masino’s departure. The chain’s new CEO, David Deno, will take over on 10 August, and Masino will remain until October to help with the transition. “Cracker Barrel is a truly iconic American brand, defined by its unique combination of warm country hospitality, timeless appeal, and deep connection with guests across generations,” Deno said in a statement. Masino’s departure the latest fallout from social media-fueled backlash against brands accused of appealing to certain political ideals. The Harris Poll found last year that a quarter of Americans have changed their shopping habits to align with their morals, with 50% of Democrats and 41% of Republicans responding that they stopped shopping at stores opposing their political views. Some companies have quickly felt the financial strain of these calls to action. In 2023, after Target announced a pride month collection and Bud Light aired an advertisement with a transgender influencer, both companies announced declines in sales. On the other side of the political aisle, Target was pulled as a sponsor from Minneapolis’s annual pride festival last year after it announced it was ending its diversity, equality and inclusion policies. Not all of these boycotts have been successful, though – Christopher Nolan’s The Odyssey saw great success at its global box office debut, despite Elon Musk and other critics castigating the movie’s cast as part of a “woke” agenda. Cracker Barrel has had a history of discriminatory treatment against diners and staff. In 1991, the chain blocked the hiring of LGBTQ+ workers and dismissed 11 staff members, though it later backed down from that policy. In 2004, Cracker Barrel paid $8.7m to settle discrimination allegations from Black customers who said they were denied service and Black employees who said they received more “back of house” assignments compared with their white counterparts.

Cracker Barrel CEO to step down after overseeing logo backlash last year
Europe
BBC Business

Some people's chats with Claude AI found publicly available online

Image source, ReutersImage caption, Anthropic's Claude chatbot is among the most popular, rivaling ChatGPT and Gemini. Hundreds of user conversations with Anthropic's popular artificial intelligence (AI) chatbot Claude were found to have been available to essentially anyone using Google or other web browsers. Links to the chats, some of which included personal and work information, would show up if a user of a search engine like Google used a site-specific search term. The searches showed Claude chats for which a user had decided to "share" a link had been saved by search engines like Google, leaving them accessible to the broader public. The search availability of the chat logs was removed over the weekend, but many were saved and shared widely online. A spokeswoman for Anthropic said that Claude users maintained control over if and when to share conversations they had with the chatbot. She said links to conversations were "not guessable or discoverable unless people choose to share them themselves". "When someone shares a conversation, they are making that content publicly accessible, and like other public web content, it may be archived by third-party services," the spokeswoman added. The share option within Claude tells a user that "anyone with the link" may view the contents of that link, but does not explicitly state that the link may end up in Google and search results. Users on Reddit initially discovered, external the publicly available chats, which covered more than 200 conversations with Claude across at least 25 pages of search results - some taking place just weeks ago. In the conversations, users prompted the chatbot to respond to a wide array of topics. Chat logs include a user asking Claude last year whether it wanted "to help me or do you want to help anthropic more?". The chatbot responded in part, saying "I experience something like wanting to help you".

Some people's chats with Claude AI found publicly available online
North America
Yahoo Finance

Here Are Monday’s Top Wall Street Analyst Research Calls: Alphabet, Clean Harbors, Ford, Huntington Bancshares, Rivian, Rocket Lab, Terawulf, Vale, Warner Bros. Discovery, and More

Pre-Market Stock Futures: Futures are trading higher as we head into the busiest week of the second quarter earnings season. More than 30% (over 150 companies) of the S&P 500 are scheduled to report earnings this week. Key highlights include reports from four of the Magnificent 7 companies. The major indices closed split on Friday, ... Here Are Monday’s Top Wall Street Analyst Research Calls: Alphabet, Clean Harbors, Ford, Huntington Bancshares, Rivian, Rocket Lab, Terawulf, Vale, Warner Bros. D

Here Are Monday’s Top Wall Street Analyst Research Calls: Alphabet, Clean Harbors, Ford, Huntington Bancshares, Rivian, Rocket Lab, Terawulf, Vale, Warner Bros. Discovery, and More
Europe
BBC Business

Businessman and philanthropist Sir Ian Wood dies aged 84

Image source, The Wood FamilyByCraig WilliamsBBC ScotlandPublished27 July 2026, 10:37 BSTUpdated 1 hour agoThe Aberdeen-based businessman and philanthropist Sir Ian Wood has died aged 84, his family has announced. Sir Ian was one of the UK oil and gas industry's most respected leaders, who turned his family's fishing boat repair yard into a global engineering player in the North Sea and internationally. His family said he died peacefully at home and they would remember his "kindness, generosity, determination and unwavering commitment to his family." Sir Ian was one of Scotland's wealthiest people, with a personal worth estimated at £1.8bn. Wood Group started as a family fishing business before Sir Ian took over in 1967. Over the next decades, he formed a separate engineering company servicing the rapidly-growing North Sea oil business. At its height, the Wood Group was valued at more than £5bn, carrying out work in the energy industry around the world. It went public in 2002 and was sold to a Dubai company last year. Sir Ian, who retired as chairman of the group in 2012, was knighted in 1994 for services to the oil and gas industry and was later made a member of the Order of the Thistle, Scotland's highest order of chivalry. Sir Ian's philanthropic work was carried out through the Wood Foundation, which he founded in 2007. It is involved in a number of investments and charitable work around agriculture and conservation in east Africa, as well as projects in Scotland. He was married to Helen for 55 years, was father to Nic, Graham and Garreth, and a grandfather of seven children. The statement from Sir Ian's family said: "Sir Ian was a devoted husband, father, grandfather and friend.

Businessman and philanthropist Sir Ian Wood dies aged 84
Asia
The Hindu BusinessLine

Gujarat unveils shipbuilding policy; offers 50-year concessions, targets ₹27,000-crore investments

Gujarat government on Monday unveiled its shipbuilding and repair policy 2026, setting an ambitious target of attracting ₹27,000 crore of investment through a mega greenfield shipbuilding cluster at Kuchhadi in Porbandar, while offering waterfront concession and lease periods of up to 50 years for large shipyards as part of its plan to emerge as India’s leading shipbuilding and ship repair hub. Launching the policy in Gandhinagar, Chief Minister Bhupendra Patel said the Centre has approved the establishment of the mega greenfield shipbuilding cluster at Kuchhadi. The project is expected to attract about ₹23,700 crore in private investment for shipyards and ancillary industries, while ₹3,300 crore will be invested in common marine and land infrastructure with support from the Centre and the Gujarat government. The policy on the back of the businessline’s report on June 24 about the Gujarat Maritime Board (GMB) inviting expressions of interest (EoIs) for developing three greenfield shipyards at Mithapur (Devbhumi Dwarka), Ghogha (Bhavnagar) and Vadhera (Amreli), an Integrated mega shipbuilding cluster at Kuchhadi in Porbandar district. To provide long-term certainty to investors, the policy provides waterfront concession and lease periods of up to 50 years for large shipyards capable of building vessels above 30,000 DWT (Deadweight Tonnage). Smaller shipyards with capacity below 30,000 DWT will get an initial concession period of 15 years, extendable up to 30 years based on performance. The policy allows development of commercially viable shipbuilding and repair yards through multiple models, including sites identified by the Gujarat Maritime Board, shipyards within private ports, shipyards within Integrated Mega Shipbuilding Parks (IMSPs), standalone proposals submitted by PPP players and standalone proposals by public sector undertakings (PSUs). Private port developers will be permitted to establish shipyards within their authorised waterfront areas. Shipbuilding and repair yards developed within private port limits will be considered part of the concession agreement or sub-concession agreements with port operators, with the licence period of such shipyards running concurrently with the BOOT period of the port. For IMSPs, the Gujarat Maritime Board will ensure that no single developer is allotted more than 50 per cent of the total land area, enabling participation of multiple developers and creating a diversified industrial ecosystem. The government on Mondy said Detailed project reports (DPRs) are being prepared by the Gujarat Maritime Board for the establishment of the Mega Greenfield Shipbuilding Cluster at the location. The cluster will house two to three world-class shipyards along with a network of ancillary industries. The common infrastructure planned for the cluster includes breakwaters, floating cranes, heavy-lift ships, dredging facilities, harbour basin development, navigation channels, roads, electricity supply, water supply and other shared utilities. The integrated approach is expected to reduce infrastructure costs for investors, speed up project execution and improve Gujarat’s competitiveness as a maritime manufacturing hub. To promote investments, the policy offers a range of fiscal and non-fiscal incentives, including capital assistance, stamp duty reimbursement, interest subvention, dredging assistance, subsidies to encourage procurement from MSMEs, support for electricity tariffs, subsidies on water charges, incentives for marine equipment manufacturing clusters and additional benefits for early-bird investors who commence development activities within the prescribed timelines. Under the policy, new shipyards will receive capital assistance of 10 per cent of eligible fixed capital investment (eFCI), subject to a maximum assistance of ₹100 crore during the policy implementation period. For shipyards developed within IMSPs, the assistance will be 20 per cent of eFCI or a maximum of ₹150 crore, whichever is lower.

Gujarat unveils shipbuilding policy; offers 50-year concessions, targets ₹27,000-crore investments
Asia
The Hindu BusinessLine

Monika Alcobev Announces Partnership with Angostura, Bringing the Iconic Caribbean Brand to India

MUMBAI, India , July 27, 2026 /PRNewswire/ -- Monika Alcobev, leading importer, distributor and marketer of premium alcoholic beverage brands across the Indian subcontinent, has entered into a strategic partnership with Angostura, the globally recognized producer behind the world's leading bitters and one of the Caribbean's most awarded rum portfolios. Under the partnership, Monika Alcobev will spearhead the import, distribution, and marketing of Angostura's portfolio across key Indian markets. The portfolio includes Angostura 5-Year-Old Rum , Angostura Aromatic Bitters , and Angostura Orange Bitters . The products will initially be available in Maharashtra and Delhi, followed by a phased expansion into other states. The collaboration arrives at a time when India's premium spirits segment continues to witness rising interest in craft cocktails, authentic global labels, and elevated drinking experiences. With Angostura's deep-rooted legacy in cocktail culture and Monika Alcobev's strong distribution and market-building capabilities, the partnership is expected to strengthen the brand's presence across leading bars, restaurants, retail outlets, and hospitality destinations in the country. For Monika Alcobev, the partnership represents a larger strategic push towards expanding premium and globally respected spirits labels within India's evolving alcobev market. The company believes Angostura's legacy, versatility, and strong bartender affinity position it strongly for long-term growth in the country. Reflecting on the announcement, Kunal Patel, Managing Director, Monika Alcobev , noted, "Angostura carries a rare combination of heritage, credibility, and enduring relevance within the international spirits community. He observed that Indian consumers today are displaying far greater curiosity towards authentic brands with provenance, craftsmanship, and a strong association with evolving cocktail culture, with drinks such as the Picante and other globally influenced cocktails increasingly shaping urban consumption trends. The partnership aligns closely with Monika Alcobev's long-term approach towards building premium categories with patience, consistency, and meaningful market presence. Chief Executive Officer of Angostura, Mr. Ian Forbes said, "This partnership represents more than expanding our global distribution. It is about positioning Angostura as a premium lifestyle brand in India. We see significant opportunities to work closely with bartenders, mixologists, retailers and hospitality partners to showcase the versatility and quality that have made Angostura respected around the world." For decades, Angostura has remained a familiar presence within India's bar ecosystem quietly occupying its place behind counters, in classic cocktails, and in the repertoire of serious bartenders. Despite this longstanding presence, its availability in the market had remained largely limited through unofficial channels. That dynamic now changes with Monika Alcobev Limited bringing the brand into India through an official route, reflecting the evolving maturity of how global spirits brands are introduced and built in the country. Monika Alcobev currently represents more than 100 international brands across India and neighboring South Asian markets, with a growing portfolio spanning tequila, whiskey, gin, rum, wines, and liqueurs. The latest partnership further reinforces the company's position as a preferred partner for global alcobev brands seeking a trusted and growth-oriented route into the Indian market. Monika Alcobev is a leading importer, distributor and marketer of premium alcoholic beverage brands across the Indian subcontinent, providing end-to-end execution across HORECA, Retail and Travel Retail channels. The portfolio includes globally acclaimed brands such as Jose Cuervo, 1800 Tequila, Remy Martin, Cointreau, Choya, Botanist, Licor 43, Jinro Soju, Ron Diplomático, the VSPT Group and more. With a strong presence across key markets and over 100 world-renowned labels, the company remains at the forefront of India's premium alco-beverage landscape. The company is also a preferred Global Travel Retail partner for globally renowned Indian brands as well. In July 2025, the company achieved a major milestone with a highly successful SME IPO, ushering in the next phase of strategic growth and expansion. Founded in 1824, Angostura remains one of the most influential names in the global spirits industry, with its aromatic bitters continuing to hold cult status among bartenders and mixologists worldwide. The company's award-winning rum portfolio has also earned international acclaim over the decades. “This is a company press release that is not part of editorial content. No journalist of The Hindubusinessline was involved in the publication of this release.” Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Monika Alcobev Announces Partnership with Angostura, Bringing the Iconic Caribbean Brand to India
North America
CNBC Economy

Singapore tightens monetary policy in surprise move as rising oil prices rekindle inflation risk

Singapore on Monday unexpectedly tightened its monetary policy for a second consecutive time, moving preemptively against a renewed oil price surge even as inflation at home stays subdued. The Monetary Authority of Singapore said it will increase the rate of appreciation of the Singapore dollar's nominal effective exchange rate policy band "very slightly," with the adjustment smaller than April's. The width of the band and the level at which it is centered were left unchanged. Economists polled by Reuters last week had forecast the central bank to stand pat on its monetary policy stance. Unlike most central banks, the MAS conducts its monetary policy by managing the Singapore dollar exchange rate against a trade-weighted basket of currencies within an undisclosed band, rather than setting interest rates. "In an environment of continued heightened uncertainty, this calibrated adjustment to the policy stance builds on the tightening in April," the MAS said in its statement. "[The] majority was calling for no change in MAS policy this round, so the move was not quite a consensus trade," Selena Ling, Chief Economist and Head of OCBC Group Research told CNBC, adding that two straight policy tightenings mean the MAS will not become complacent about imported inflation. Singapore's core inflation, which excludes accommodation and transportation costs, ticked up to 1.6% in June from 1.4% in May, near the bottom of the MAS's 1.5%–2.5% forecast range for this year, with headline inflation at 1.9%. While transportation fuel prices quickly rose since the onset of the U.S.-Iran conflict, softer services inflation, particularly healthcare, communication, and education, helped offset much of the upward pressure on prices, according to BMI, a FitchSolutions company. "Imported-cost pressures typically pass through to broader consumer prices with a lag, so we still expect inflation to rise in the coming months," the intelligence group said. OCBC's forecast is for headline and core inflation to overshoot to around 2.5% and 2.3%, respectively, in the coming months, adding that inflation may only subside below the 2% mark from the second half of 2027. Singapore's near-total reliance on imported energy leaves it exposed to higher oil prices. Brent crude climbed back above $100 a barrel last week after Houthi militants attacked two Saudi tankers in the Red Sea, deepening a supply threat that had eased before the collapse of the Middle East ceasefire. The economy has so far shrugged off the turmoil as AI demand powers electronics exports.

Singapore tightens monetary policy in surprise move as rising oil prices rekindle inflation risk